John Hancock Financial Network is trying to increase the odds that financial representatives will have an easy time transferring their firms to others when they choose to move on.
John Hancock Financial Network, Boston, an arm of Manulife Financial Corp., Toronto, (NYSE:MFC) manages a team of about 1,900 independent financial professionals.
The network has brought in Business Transitions L.L.C., Portland, Ore., which does business as FP Transitions, to help set up a Build4Success business transition program.
The program can help a financial professional estimate the current value of a business, protect the business against short-term continuity problems, increase the size of the business, and sell the business to a known successor or an external buyer, Hancock says.
The program also can help with deal financing and with putting the business under the management of a new rep, Hancock says.